Western Digital Co. (NASDAQ:WDC) Shares Acquired by Walleye Capital LLC

Walleye Capital LLC boosted its stake in shares of Western Digital Co. (NASDAQ:WDCGet Rating) by 5.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 25,501 shares of the data storage provider’s stock after purchasing an additional 1,377 shares during the quarter. Walleye Capital LLC’s holdings in Western Digital were worth $1,266,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDC. Addison Advisors LLC lifted its holdings in Western Digital by 6,375.0% in the first quarter. Addison Advisors LLC now owns 518 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 510 shares during the period. Herold Advisors Inc. acquired a new stake in Western Digital during the first quarter valued at $40,000. Wolverine Asset Management LLC grew its position in Western Digital by 113.2% during the first quarter. Wolverine Asset Management LLC now owns 828 shares of the data storage provider’s stock valued at $41,000 after buying an additional 7,100 shares during the period. Tobam acquired a new stake in Western Digital during the first quarter valued at $43,000. Finally, NuWave Investment Management LLC acquired a new stake in Western Digital during the first quarter valued at $46,000. 84.57% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Down 1.5 %

Shares of WDC opened at $37.22 on Monday. Western Digital Co. has a 52-week low of $36.31 and a 52-week high of $69.36. The company has a market capitalization of $11.71 billion, a PE ratio of 7.84 and a beta of 1.51. The stock has a fifty day simple moving average of $45.88 and a two-hundred day simple moving average of $49.51. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.57.

Western Digital (NASDAQ:WDCGet Rating) last issued its earnings results on Friday, August 5th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.27. Western Digital had a return on equity of 19.15% and a net margin of 7.98%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the company earned $1.96 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Western Digital Co. will post 2.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WDC. Evercore ISI upped their price target on Western Digital from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, June 2nd. Stifel Nicolaus reduced their price target on Western Digital from $85.00 to $77.00 in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Western Digital from $64.00 to $56.00 in a research note on Monday, August 8th. BNP Paribas initiated coverage on shares of Western Digital in a research note on Tuesday, September 13th. They issued an “underperform” rating and a $30.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Western Digital from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.05.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $40.90, for a total value of $88,712.10. Following the transaction, the senior vice president now directly owns 31,554 shares in the company, valued at approximately $1,290,558.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

About Western Digital

(Get Rating)

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications; and flash-based memory wafers.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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